An investigation on behalf of investors of GRANDPOINT CAP INC (OTCMKTS:GPNC) in connection with the proposed takeover was announced and OTCMKTS:GPNC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/22/2018 -- An investigation was announced for investors, who currently hold shares of Grandpoint Capital, Inc (OTCMKTS:GPNC), over whether the takeover of GRANDPOINT CAP INC by Pacific Premier Bancorp, Inc is unfair to OTCMKTS:GPNC stockholders.
Investors who purchased shares of GRANDPOINT CAP INC (OTCMKTS:GPNC) and currently hold any of those OTCMKTS:GPNC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of GRANDPOINT CAP INC breached their fiduciary duties owed to OTCMKTS:GPNC investors in connection with the proposed acquisition.
On February 12, 2018, Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), the holding company of Pacific Premier Bank and Grandpoint Capital, Inc. (OTC Pink: GPNC) announced they have entered into an agreement under which Pacific Premier will acquire Grandpoint Capital, Inc in an all-stock transaction valued at approximately $641.2 million, or $18.57 per share, based on a closing price for Pacific Premier's common stock of $39.10 as of February 9, 2018.
However, given that certain Grandpoint Capital, Inc shareholders, as well as Grandpoint's directors and executive officers, have already entered into agreements with Pacific Premier pursuant to which they have committed to provide written consents with respect to their shares of Grandpoint common stock in favor of the acquisition, the investigation concerns whether the offer is unfair to GRANDPOINT CAP INC (OTCMKTS:GPNC stockholders. More specifically, the investigation concerns whether the GRANDPOINT CAP INC (OTCMKTS:GPNC Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On February 21, 2018, shares of GRANDPOINT CAP INC (OTCMKTS:GPNC) closed at $20.15 per share.
Those who are current investors in GRANDPOINT CAP INC (OTCMKTS:GPNC) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com